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Loan Modification

: Loan Modification & Home Loan News

Short sales may result in double tax whammy

By Moe Bedard

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SACRAMENTO, CA – Tax day may be especially painful for thousands of Californians who may have to pay state income tax on canceled mortgage debt in short sales.  Federal law allows an exemption on the deficiency of a short sale, but late last week Gov. Schwarzenegger vetoed a bill that would give a state tax break to [...]

Full post as published by Loan Modification & Home Loan News on March 30, 2010 (boomark / email).

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